The Dogecoin price prediction is currently making another attempt at breaking out above the $0.10 resistance level.
Dogecoin Prediction Statistics Data:
- Dogecoin price now – $0.093
- Dogecoin market cap – $12.4 billion
- Dogecoin circulating supply – 132.6 billion
- Dogecoin total supply – 132.6 billion
- Dogecoin Coinmarketcap ranking – #9
Resistance levels: $0.095, $0.100, $0.105
Support levels: $0.067, $0.062, $0.057
DOGE/USD bulls were rejected around the $0.082 level as the coin relapsed to the downside. However, the Dogecoin price is heading toward the 9-day and 21-day moving averages and it’s likely to bring the coin below the resistance level of $0.075. However, the technical indicator Relative Strength Index (14) indicates bearish movement as the signal line moves out of the overbought region, indicating that the market sentiment is likely to be bearish.
Dogecoin Price Prediction: DOGE Price May Follow the Uptrend
The Dogecoin price is changing hands at $0.078 where it could face up. If the DOGE/USD breaks above the upper boundary of the channel, the coin may continue its upward movement to retest the previous high of $0.082. Therefore, the nearest resistance levels are located at $0.095, $0.100, and $0.105. On the contrary, if the coin decides to cross below the moving averages, it could hit the support levels at $0.067, $0.062, and $0.057 respectively giving a fade bullish trading volume.
When compares with Bitcoin, the Dogecoin price has been moving in the same direction above the 9-day and 21-day moving averages as the bulls may begin to push the coin to the positive side. On the downside, if the market price crosses below the moving averages, the next support level may come at 260 SAT and then locate further key support at 220 SAT and below if the sell-off later becomes huge.
However, on the upside, if the bulls push the price back above the resistance level of 282 SAT; Dogecoin could face the 300 SAT. Any other resistance level lies at 330 SAT and above. The signal line of the Relative Strength Index (14) nosedives below the 70-level, which could confirm the bearish movement. On the other hand, if it moves below the 60-level, it may bring more bearish pressure into the market.
The Dogecoin price is likely to create additional gains, however, when new uptrends are coming up, traders may use the moving averages to gauge the strength of the trend. Nevertheless, if DOGE/USD remains above the 9-day and 21-day moving averages, this could be a sign of sustainability and may likely result in a bullish continuation.
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